In response to a growing community perception that the corporate regulators (ASIC, ACCC and the Commissioner for Consumer Protection amongst others) had not been effective enough in preventing corporate crime, there has been a recent regulatory crackdown on ‘white collar’ offences in Australia.
Insider trading in particular is one area that has seen a large scale increase in prosecutions, coupled with a doubling of penalties available under the Corporations Act for those companies and individuals found guilty of insider trading.
This crackdown has also seen increased scrutiny of how directors are exercising their duty to ensure that their company is complying with its legal obligations to be a good corporate citizen.
There are major implications for a company or individual charged or facing investigation by the corporate watchdog. In the event that you or your company find yourself in that unenviable position it is critical that you engage a team of solicitors with experience in the area.
At Mony De Kerloy, we can assist in finding solutions to your corporate problems.